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Approaching Key Resistance At 1.2648....>

CABLE TECHS: Approaching Key Resistance At 1.2648
*RES 4: 1.2849 High Mar 12
*RES 3: 1.2726 Low Feb 28
*RES 2: 1.2648 High Apr 14 and the bull trigger
*RES 1: 1.2643 High Apr 30
*PRICE: 1.2562 @ 05:31 BST May 1
*SUP 1: 1.2429 Low Apr 30
*SUP 2: 1.2389 Low Apr 29 and key intraday support
*SUP 3: 1.2298 Low Apr 24
*SUP 4: 1.2248 Low Apr 21 and the bear trigger
Cable was firmer too yesterday led by USD selling pressure. The focus is on key
resistance at 1.2648, Apr 14 high. A break of this level would confirm a
resumption of the uptrend that has been in place since Mar 20 and would open
1.2726 initially, the Feb 28 low. A failure to breach this level would be a
concern for bulls. The key support parameter lies at 1.2248, Apr 21 low. Ahead
of this support, an initial level lies at 1.2429.

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